Bihar govt not serious about fake chit fund firms

.....Regional Director, Reserve Bank of India (RBI), Patna region, M K Verma told reporters on Monday that the state was yet to have its own registrar of chits (ROC) and, as a consequence, all the 26 chit fund companies of the state are illegal as of now for no fault of theirs, adding that it was the Chit Funds' Act that made it mandatory for every chit fund company to get the state government approval through the ROC concerned. He said the list of chit fund companies was also given by the RBI to the state government officials concerned......

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